Stronghold vs Tether

Tether (USDT) is 1987.4× the size of Stronghold (SHX) by market capitalisation. Over the past 30 days, SHX is ahead by 16.3 percentage points (SHX +16.3% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.10 across 52 shared trading days). SHX has been the more volatile of the two, at 112% annualised against USDT's 1%.

Correlation: -0.10
Size ratio: 1 : 1987.4
Ahead over 30 days: SHX

StrongholdSHX

$0.004797

24h: +10.03%
Market cap: $89.69M
Volume 24h: $961,615
Volatility (ann.): 112%

TetherUSDT

$0.999278

24h: +0.02%
Market cap: $178.25B
Volume 24h: $62.50B
Volatility (ann.): 1%

SHX 0.1%Share of the two combined market caps99.9% USDT

Performance

SHXUSDT

7 days-6.88%+0.03%USDT
30 days+16.25%-0.08%SHX

Correlation

-0.10over 52 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1390d: insufficient data1y: insufficient data

Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.

Risk & extremes

Metric	SHX	USDT
Max drawdown (400d)	-29.6%	-0.2%
Risk-adjusted return (90d)	0.32	-0.03

Relative strength over 90 days: SHX outperformed USDT by 35.8% — measured on the SHX/USDT ratio, so it holds regardless of market direction.

Stronghold →Tether →